NAMA: a first roll of the dice
Published 04/02/2010 | 05:00
SIX months after the Minister for Finance first unveiled to the Dail the draft legislation for the National Asset Management Agency, we are about to witness the first roll of the dice in the biggest economic gamble in the history of the State.
NAMA is completing its assessment of property loans of top borrowers, including some particularly complex ones, and is about to take over the first lot.
Both the minister and the head of NAMA have told us that, as the process unfolds, assets will be bought at a 30pc average discount, not the higher amounts predicted by critics.